Insurance
Insurance replacement cost is the replacement cost new as defined in the insurance policy less the replacement cost new of the items specifically excluded in the policy, if any. (Valuing Machinery & Equipment, 2nd Ed., ASA, Washington DC 2005; p4)
Insurance value depreciated is the insurance replacement cost new less accrued depreciation considered for insurance purposes, as defined in the insurance policy or other agreements. (Valuing Machinery & Equipment, 2nd Ed., ASA, Washington DC 2005; p5)
Substitution Cost - The cost of acquiring an equivalent item is substitution cost. (Appraisal Principles & Practice by Henry A. Babcock, ASA, Washington DC 1980; p144)
Insurable Value: the value of property stated in an insurance contract indicating the limit of indemnity that will be paid at the time of loss <http://www.merriam-webster.com/dictionary/insurable%20value>
Insurable Value: Replacement cost or actual cash value of a building for which standard insurance policies provide indemnity cover. Insurable value is less than the property's appraised or market value because it excludes the value of land on which the building stands. The formula for computing the insurable value is usually stated in the valuation clause of a policy document. See also insured value.
<http://www.businessdictionary.com/definition/insurable-value.html#ixzz1uCXEtHOQ>
Replacement Cost - Replacement Cost Coverage provides coverage for your home's contents for full replacement value without a deduction for depreciation (subject to your deductible and policy limits for Personal Property). Refer to your policy for complete details. <https://www.usaa.com/inet/pages/g_old_PC_View_Policy_Summary_Homeowners_index>
Insurance replacement cost is the replacement cost new as defined in the insurance policy less the replacement cost new of the items specifically excluded in the policy, if any. (Valuing Machinery & Equipment, 2nd Ed., ASA, Washington DC 2005; p4)
Insurance value depreciated is the insurance replacement cost new less accrued depreciation considered for insurance purposes, as defined in the insurance policy or other agreements. (Valuing Machinery & Equipment, 2nd Ed., ASA, Washington DC 2005; p5)
Substitution Cost - The cost of acquiring an equivalent item is substitution cost. (Appraisal Principles & Practice by Henry A. Babcock, ASA, Washington DC 1980; p144)
Insurable Value: the value of property stated in an insurance contract indicating the limit of indemnity that will be paid at the time of loss <http://www.merriam-webster.com/dictionary/insurable%20value>
Insurable Value: Replacement cost or actual cash value of a building for which standard insurance policies provide indemnity cover. Insurable value is less than the property's appraised or market value because it excludes the value of land on which the building stands. The formula for computing the insurable value is usually stated in the valuation clause of a policy document. See also insured value.
<http://www.businessdictionary.com/definition/insurable-value.html#ixzz1uCXEtHOQ>
Replacement Cost - Replacement Cost Coverage provides coverage for your home's contents for full replacement value without a deduction for depreciation (subject to your deductible and policy limits for Personal Property). Refer to your policy for complete details. <https://www.usaa.com/inet/pages/g_old_PC_View_Policy_Summary_Homeowners_index>
